How Can You Check Your Credit Score

Your credit report informs probable lenders about your responsibility with credits and loans in the past. Lenders can ask for the document to examine the amount of risk they would be taking while lending money to you. A good credit score is crucial for financial planning.

Lenders can check your credit history. They can see details of current and past credit accounts. The credit history also documents the number of times lenders or even you ask for a credit report. It also records the instances of your account information being sent to collection agencies. Financial issues like bankruptcies, foreclosures, liens and judgments, anything part of public records, are also included. Your creditworthiness is represented by your credit score. The scores are also termed as credit ratings. If taken narrowly, they are also known as FICO scores. The latter ranges from a low of 300 to a high of 850, and is published by the Fair Isaacs Corporation.

Meaning of credit scores

Your credit score is simply a numeric representation of your credit history. The score is made of five parts of associated weights, including.

  • ? History of payments, which make up 35 percent of the total score
  • ? Owed amounts contribute 30 percent
  • ? Credit history length makes up 15 percent
  • ? Kinds of credits being used by you make up 10 percent
  • ? Account inquiries make up 10 percent of the score

Lenders examine your credit risk by looking at your credit score. Higher scores equal lower risks. It means the chance of lenders paying you increases too, proving the need of having a good credit score.

Accessing your report

There are four methods by which you can check your credit scores

Method 1: Use FICO

Navigate to the FICO website and directly access the credit scores. The Fair Isaacs Corporation both develops and maintains the FICO score. These scores are utilized by lenders who provide instant approval. It is a higher standard among credit scores. You must sign up to get the credit score.

Method 2: Directly contact credit bureaus

Buy a full credit report. You can do it directly from any one of three important credit bureaus. The important ones are Experian, TransUnion and Equifax. You can directly buy from each of the websites. You must share your personal identification number prior to gaining access to credit score. The process involves asking personal, confidential questions like Social Security Number and mortgage payment. It would also help if you could buy a credit report with the score. Any credit card errors may affect the score and must be reported to the credit bureau.

Type in the information and answer the security questions. Provide your credit card information too. Do know that all credit bureaus provide three in one reports, offering copies of the scores and credit report to all other credit bureaus.

Method 3: Take advantage of the credit monitoring services

Credit monitoring services permit individuals to check every activity related to credit reports over a month. Such services attract monthly fees and give you the credit score. These services are ideal for those who have previously been a victim of identity theft. You can also go for them if you want to closely monitor your credit reports. Third party services also offer similar programs. It should be ensured that the companies are legitimate before approaching them.

Select a particular credit monitoring service for security, safety and for ready access. You can get daily monitoring service and alerts for your credit score, keeping you aware in case an unexpected event occurs.

Method 4: Get the yearly free credit report

Navigate to the Annual Credit Report site and view credit score once every year. The Fair Credit Reporting Act ensures that everyone enjoys a free credit report once every year from all important credit bureaus like Equifax, Experian and TransUnion.

You should take advantage of checking your credit score at least once a year. It is important if you want to plan your future finances. When you check your score, you also discover whether there are errors in the documentation, and get them rectified.

Sometimes, having a second pair of eyes on your credit reports can help a lot. Try finding a good credit repair company that might work for you by going to our home page and reading the credit repair company reviews.

We Value Full Disclosure is a free resource. We provide valuable content and comparisons for our consumers. In order to keep our resources free for readers, partners with some of the companies listed on this page. We may receive marketing compensation in exchange for clicks and calls from our site. Compensation may impact the location in which such companies appear on this page. Location, order and company ratings are may change based on editorial and staff decisions.

Our Commitment is committed to ensuring better credit repair help experiences for everyone, which means we do our due diligence so that you can make an informed decision.

If you are looking to work with a credit repair company that isn’t listed and would like for us to look into, please contact us.

Our Partners

The Credit People, Lexington Law, SkyBlue Credit Repair, The Credit Saint.